India is set to introduce a $2 billion incentive plan to replace fossil-fuel-powered passenger vessels, such as ferries and barges, on its inland waterways with environmentally friendly alternatives. The proposal, initiated by the shipping ministry, is expected to be supported by 149.2 billion rupees ($1.8 billion) in subsidies over the next decade. It is currently awaiting approval from the finance ministry.
As part of its broader effort to decarbonize the maritime sector, India is focusing on its inland shipping segment, which is projected to double its fleet of 10,000 vessels by 2030. The initiative is expected to reduce annual emissions by about one million tons. Decarbonization guidelines for cargo and cruise vessels are also being prepared.
The incentive plan aims to shift India's predominantly diesel-powered fleet to cleaner energy sources, including electricity, liquefied natural gas (LNG), and hydrogen. Financial assistance will be provided for vessel procurement, retrofitting, and the construction of shore infrastructure, such as refueling stations and docking facilities.
According to the government’s strategy outlined in January, India hopes to have half of its inland passenger vessels running on cleaner fuels by 2030. The registration of new fossil fuel-based vessels will be phased out by 2033, with the goal of fully replacing them by 2045. This plan aligns with India’s commitment to achieving net-zero emissions by 2070.
India's Richest States in 2024: Top 10 Rankings
World Bank Increases India’s Growth Forecast to 7% for FY25 Driven by Private Consumption
You may also like
Admission can't be denied on disability ground if it doesn't come in the way of pursuing studies: SC
Delhi court to deliver verdict on Satyendar Jain's bail plea on Oct 18
Bypolls for five Assembly seats in Assam on Nov 13; BJP to contest three seats
Thomas Tuchel to England truth as former Chelsea boss enters advanced talks over role
'I was right to criticize Jurgen Klopp but Liverpool has one of the best in Arne Slot'
Debenhams slashes price of £3,600 luxury watch by 93% to £234 in huge sale
Strictly's Chris McCausland reveals secret moment with Dianne Buswell on live shows
Thomas Tuchel has already explained only way he'd accept England job offer
Gujarat to modernise fishing centres with Rs 54.50 crore investment
Jack Grealish's girlfriend Sasha shares adorable snap of new baby who has full head of hair
Amid Heavy Bengaluru Rain, 2 Kids Injured In Cars' Head-On Collision on Mysuru Expressway: VIDEO
Max Verstappen parties to Taylor Swift while at wedding with girlfriend Kelly Piquet
Seaside town with 'best quality of life' is also home to a quirky Christmas market
Arsenal rue Nico Williams transfer rejection amid Bukayo Saka and Gabriel Martinelli injury wait
New UK weather maps turn icy blue showing exactly where and when 0C blast will bite
My eyes do not deceive me – Strictly's Katya pushed Wynne's wandering hand away
Sir Jim Ratcliffe facing fresh Man Utd headache after ruthless Sir Alex Ferguson call
North Korea threatens to turn South Korea into a 'pile of ashes' as it blows up key road
Wealth tax call to hit 75,000 to raise £130 billion over five years to fund UK renewal
Ryanair, easyJet, Jet2, British Airways and TUI full list of new flights from UK